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INCOMING CLASS OF DESIGN ENTREPRENEURS: New York City Economic Development Corp. and the Fashion Institute of Technology have selected its 2014 class of New York City-based companies to participate in Design Entrepreneurs NYC, a free intensive “mini-MBA” program that teaches emerging fashion designers how to run a succcessful label. The 2014 class is made up of 35 businesses culled from a field of 270 applications.
The participants represent such fashion categories as women’s wear, men’s wear, jewelry, accessories, deocrative arts, intimate apparel, handbags and eyewear.
The program will take place during the summer at FIT, led by FIT faculty and other industry professionals. The focus is on business marketing, operations and financial management, allowing participating emerging designers to expand their companies in New York City, creating jobs and opportunities. Funded in part for the second year by a gift from G-III, Design Entrepreneurs NYC will award the designers with the winning and second place business plans, judged by an expert panel at the end of the program, with $25,000 and $10,000 in funding, respectively. The G-III gift will also fund financial workshops, networking opportunities and fashion business presentations for both past and current program participants.
“New York City’s fashion industry supports more than 180,000 jobs across all five boroughs, and programs like Design Entrepreneurs NYC help to foster growth in this important sector, ensuring that the industry continues to create jobs and that our city remains the global capital of fashion for generations to come,” said Kyle Kimball, president of the NYCEDC.